NYAX
Nayax Ltd.
$49.31
Platform & Compounding FCF
85%
Two-stage FCF DCF
Strong
·
Conviction
Undervalued
Trading 40.6% below fair value
You pay
$49.31
Bear
$51.78
Fair
$83.07
Bull
$119.03
Bear
$51.78
+5.0%
10% stage 1 growth, 11% discount
Fair
$83.07
+68.5%
16% stage 1 growth, 11% discount
Bull
$119.03
+141.4%
21% stage 1 growth, 11% discount
Adjust Assumptions
16.3%
11.0%
3.0%
Key Value Driver
FCF growth rate (16% base case)
Terminal Value % of EV
44%
Implied Market Multiple
20.1x
Market is pricing in (growth)
9.1%
vs 16.3% base
Analyst Consensus (External Reference)
Never blended into the bear/base/bull estimates above.
Average Target (6 analysts)
$73.08
Divergence from AlphaVal
14%
Summary
Using a two-stage FCF DCF with 16% growth decelerating over 15 years, discounted at 11%, the base-case intrinsic value is $83.07 per share.
Key Risks
- P/E alone misleads — earnings depressed by growth investment
- Cyclical or commodity businesses may be misclassified as platforms
- Terminal value dominance suggests sensitivity to long-run assumptions